All Articles Tagged - GBPUSD

European Session – Dollar struggles for direction in subdued trading

Posted on January 10, 2017 at 3:51 pm GMT

Currency markets were muted in European trading today as the absence of major data and investor angst about US President-elect’s press conference on Wednesday led to more cautious trading. The US dollar see-sawed around the 116 yen level while the euro was unable to hold above $1.06 by late European trading. Market concerns about what Donald Trump might reveal about his policies, particularly on trade, tax cuts and relations with China when he holds his first press conference since the [..]

FX Daily Outlook | 10-01-17

Posted on January 10, 2017 at 10:09 am GMT

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Technical Analysis – GBPUSD in downtrend; 1.21 level comes into view

Posted on January 10, 2017 at 9:19 am GMT

GBPUSD has been under pressure for the third trading day in a row, sinking to more than 2-month lows. Prices are well below the 200-day moving average (MA), as well as below the 50-day one. This is indicative of the downward trend that is in place. Looking at the RSI indicator, it is in bearish territory well below 50, hinting to further declines in the near term. As regards the stochastics, the %K line has recently crossed below the slow [..]

Asian session – Dollar retreats ahead of Trump press conference

Posted on January 10, 2017 at 8:04 am GMT

The US dollar posted some modest losses during Tuesday’s Asian trading despite relatively hawkish remarks from Federal Reserve officials the previous day. Dollar / yen was below 116 at 115.72 while the euro was trying to climb above the 1.06 level at 1.0598. The euro had climbed as high as 1.0627 earlier in the session. Boston Fed’s Eric Rosengren called for a faster pace of interest rate hikes compared to the one-a-year pace of the previous two years while Dennis [..]

European Session – Dollar erases gains but pound steadies as hard Brexit fears linger

Posted on January 9, 2017 at 4:23 pm GMT

The yen saw increased demand in Monday’s European session, leading the US dollar to give up its earlier gains against the Japanese currency. Other currencies also lost ground against the yen, particularly the British pound, which has been hit today by fresh concerns of a hard Brexit following comments by UK PM Theresa May over the weekend. Softer US treasury yields helped the yen higher in late European trading, with the dollar slipping back below 117 yen to around 116.35 [..]

FX Daily Outlook | 09-01-17

Posted on January 9, 2017 at 10:32 am GMT

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Asian session – Dollar extends employment report gains while pound drops on ‘hard Brexit’ talk

Posted on January 9, 2017 at 8:25 am GMT

The US dollar managed to maintain Friday’s gains or even extend them against certain currencies during Monday’s Asian trading. Particularly against the Japanese yen the dollar climbed to around 117.50, while against the euro it traded at 1.0531. The dollar had earlier pushed the single currency to as low as 1.0515. Liquidity was overall thin because of a bank holiday in Japan, while there was a relative absence of market-moving developments following Friday’s all-important jobs numbers. On Friday, the US [..]

European session – Dollar stays pinned despite positive data

Posted on January 5, 2017 at 3:26 pm GMT

The US dollar remained under pressure and an attempt to stage a serious rebound was met with selling. Still, the dollar index managed to stay away from its late Asian session low of 101.71, but an attempt to scale above 102.51 level in mid-session failed. The index was at 102.00 at the time of writing shortly after the release of an upbeat December Services ISM. Dollar / yen was once again below 116 at 115.86, while euro / dollar was [..]

European session – Dollar falls victim to profit-taking ahead of Fed minutes

Posted on January 4, 2017 at 3:21 pm GMT

There was some selling of the US dollar during today’s European session as dollar longs saw the opportunity to book some profits. The greenback weakened broadly – both against the safe haven yen to 117.40, as well as against the aussie, which rose to 0.7266 against the US currency. The recent stream of positive economic news continued during today’s European session with the release of positive PMI data out of Germany, the Eurozone and the UK. Earlier during the Asian [..]

European session – Dollar rallies and pound gains on strong manufacturing surveys

Posted on January 3, 2017 at 3:54 pm GMT

The US dollar continued its upward march, scaling new highs following the release of a very bullish manufacturing survey for December. The much awaited ISM manufacturing PMI came in better-than-expected at 54.7 compared to the previous month’s 53.2 reading and analyst forecasts of a 53.6 print. What was especially noteworthy however was the big jump in the prices paid component, as the sub-index rose to 65.5 from 54.5. Obviously such a big move seems to confirm worries about future inflation [..]

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